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+1 (888) 647 05 40DeFi is one of the top current blockchain technology-related trends. The DeFi space is highly extensive, including many directions and use cases, being associated not only with cryptocoins. Read on to figure out what are the pros and cons of decentralized cryptocurrency.
First thing first, it should be specified what is included in the notion of “DeFi”. DeFi is an innovative financial mechanism with a basis on secure distributed ledger technologies close to those used by cryptocoins. It offers financial instruments, not relying on intermediaries, such as broker companies, exchanges, or banking institutions by using self-executing contract s stored on blockchain. Primarily, DeFi is applied in the bellow-mentioned areas:
Regardless of all the buzz around cryptocoins, in some specific cases there may be a lack of regulation, it is not always clear what are the pros and cons of DeFi, and whether it is safe to use it.
Many of the challenges and risks facing DeFi projects refer to the technologies they are based upon; blοckchain itself. Major disadvantages of blοckchain include:
Having considered both pros and cons of decentralized cryptocurrency, it becomes clear that DeFi has the potential to completely disrupt monetary policy across the globe.
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